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3MV Energy Announces Further Settlement of Debt and Closing of Private Placement

/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
ANY UNITED STATES NEWS SERVICES./

CALGARY, Feb. 26, 2013 /CNW/ - Further to its press releases dated
October 18, 2012, November 5, 2012, November 13, 2012, November 19,
2012, December 19, 2012 and January 7, 2013, 3MV Energy Corp. ("3MV" or the "Company") (TSXV: TMV) is pleased to announce that it has agreed to convert
$875,867.90 of trade and professional services debt into 3,503,472
units (the "Units") of the Company at a conversion price of $0.25 per Unit. Each Unit
will be comprised of one Share and one common share purchase warrant (a
"Warrant"). Each Warrant will entitle the holder to purchase one additional
Share of the Company at an exercise price of $0.50 per Share for a
period of 18 months following the date of issuance. To date the Company
has converted $2,776,399.49 of debt into an aggregate of 11,105,526
common shares and 10,343,966 Warrants. 3MV is continuing to solicit its
creditors for conversion.

These transactions are consistent with 3MV's present goal to preserve
its cash and are subject to the approval of the TSX Venture Exchange.

Closing of Unit Private Placement

3MV is also pleased to announce that it has closed a non-brokered
private placement (the "Offering") of 200,000 units (the "Units") at a price of $0.25 per Unit for gross proceeds of $50,000. Each Unit
is comprised of one common share and one common share purchase warrant
(a "Warrant"). Each Warrant entitles the holder to purchase one additional common
share of the Company at an exercise price of $0.50 per common share for
a period of 18 months following the date of issuance.

The gross proceeds of the Offering will be used for general working
capital purposes.

The Offering has been conditionally approved by the TSX Venture Exchange
("TSXV") and is subject to its final approval.

According to TSXV rules and applicable securities legislation, the
securities issued pursuant to the Offering are subject to a four-month
and one day hold period, commencing on the closing date and ending on
June 27, 2013. The issuance of the common shares will not result in a
change of control.

About 3MV

3MV is an oil and gas exploration and development company with assets
throughout west central Saskatchewan's Viking oil play.

The securities offered have not been and will not be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or applicable exemption
from the registration requirements. This news release does not
constitute an offer to sell or the solicitation of any offer to buy nor
will there be any sale of these securities in any province, state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such province, state or jurisdiction.

Forward-Looking Statements

Certain statements in this news release constitute forward-looking
statements. The forward-looking statements contained in this document
are based on certain key expectations and assumptions made by 3MV.
Although 3MV believes that the expectations and assumptions on which
the forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because 3MV can
give no assurance that they will prove to be correct.

Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated
due to a number of factors and risks. These include, but are not
limited to, the failure to obtain necessary regulatory approvals, risks
associated with the oil and gas industry in general, commodity price
and exchange rate fluctuations and uncertainties resulting from
potential delays or changes in plans with respect to exploration or
development projects or capital expenditures. Readers are cautioned
that the foregoing list of factors is not exhaustive. Additional
information on these and other factors that could affect 3MV's
operations and financial results are included in reports on file with
Canadian securities regulatory authorities and may be accessed through
the SEDAR website (www.sedar.com).

The forward-looking statements contained in this document are made as of
the date hereof and 3MV undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so
required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.